Brenda's Tucson Housing Market Report
July 2014

Summer Time.....And The Livin Is Easy
Fish are Jumping, Well... not so much (it is the desert after all)

Maybe the Fish Arn't Jumpin - But the Market's Jumpin, That's For Sure

Average Days On Market = 63 ~ Sales Price as a % of List Price = 96.71%

Market Activity: June was extremely busy with lots of activity. Summers used to be pretty slow around here but not any more. Summer is a strong season here now. It's a different clientele in the summer, more families moving around and lots of new residents coming here to live. Winter is of course the snowbird season with 2nd home buyers and retirement community buyers more prevalent.

In The News: Oro Valley recently made the National News as one of one of "America's 10 Safest Suburbs". The data included property crimes per capita, violent crimes per capita and the chances of being the victim of a crime. Read Full Article

We had a chance to visit the Oro Valley Hospital recently (Pat's getting clumsy and hurt his hand) The ER center was great and the follow-up Day Surgery center was fantastic. We are very fortunate to have such a top notch hospital right here in Oro Valley. If you're interested in Medical Facilities in Oro Valley check out the Oro Valley Hospital. It's literally only 5-10 minutes from anywhere in town.

If you're looking for a No Hassle-No Pressure realtor to show you around we'd love to help. We specialize in Oro Valley and the Catalina Foothills. We're experts on golf properties, retirement communities, vacation homes and investment properties. We sell about a hundred homes a year so we know what we're doing. We love meeting people and helping them find their Dream Home. Contact us and we can help you too:-)

Feel free to contact us with your questions. We're easy to talk to and we can answer any questions you might have about current market conditions, interest rates or where home prices are headed. If you're interested in talking about listing your home we'd be happy to provide our recommendations on how best to proceed.

Key prior month statistics from the Tucson Association of Realtor’s July 2014 Report show:

Total Tucson Homes Sold: 1,297, Decreased 7.296% from June of 2013. Increased 6.75% from last month.

Total Tucson Homes Under Contract: 1,919, Decreased 16.79% from June of 2013. Decreased 5.75% from last month.

Tucson Median Sale Price: $168,815, Up 5.51% from June 2013.
Oro Valley Median Sales Price: $257,750, Up 2% from June 2013.
Catalina Foothills Median Sales Price: $370,000, Up 12% from June 2013.

Total Tucson Active Listings: 5,284, Up 33.67% from 3,953 in June of 2013.
Northwest Tucson Active Listings: 1,494, Down 36 units from last month.
Catalina Foothills Active Listings: 616, Down 20 units from last month.

Total Tucson New Listings: 2,020, Up from 1,748 New Listings in June of 2013.
Northwest Tucson New Listings: 544, Up 61 units from last month.
Catalina Foothills New Listings: 201, Down 107 units from last month.

Some quick conclusions we can draw from these Tucson home sales statistics are:

Positive Market Indicators this month: Average sale price was up 7.75% over last year, Average list price was up 8.22% over last year and Median sales price was up 5.51% year over year.

Negative Market Indicators this month: Total units sold was down 7.29% over same period last year. Active listings were up 33.67% over last year.

Market Outlook: While we have more inventory than last year, so there are more choices for buyers which is good. Prices continue to slowly increase and the market remains active as we work our way through our summer sales season. Interest rates remain range bound in the mid 4% range but should increase going forward especially as we get closer to the end of the year.

National Economic data continues to slowly improve with most economic indicators continuing to trend upward very slowly. We hope to see stronger economic numbers as we move through summer and head into the fall season. The FED continues to unwind it's bond buying binge and expects to complete that process in October. Most economists predict the FED will begin slowly increasing rates sometime in mid 2005. We monitor this closely as it is a precursor to increased mortgage rates

The Tucson Market Reports below will give you a detailed look inside the current Tucson Housing Market.

Questions about current Tucson Housing Market Conditions?
Email Brenda or call her Today at 520-918-5968
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